Lookout Projects Lost and Stolen Phones Could Cost U.S. Consumers
Over $30 Billion in 2012

Lookout Study Identifies Top U.S. Cities for Phone Loss:
Philadelphia, Seattle and Oakland

March 22, 2012 09:00 AM Eastern Daylight Time

SAN FRANCISCO--(BUSINESS WIRE)--Lookout, the global leader in mobile security, today released findings
from the first-ever phone loss study, which revealed that lost phones,
if unrecovered, could cost U.S. consumers more than $30 billion this
year. As part of the study, Lookout Labs today released the Mobile
Lost & Found, an interactive website for people to discover the
places where phones are most often lost, the likelihood of losing a
phone by region, and the financial impact of lost phones.

Lookout’s analysis, from more than 15 million users, found that
demographics and behavior are the largest factors influencing phone
loss. Over the course of 2011, Lookout located 9 million lost
smartphones, which equals one phone every 3.5 seconds. In total, Lookout
found that U.S. consumers lose their phone about once a year. If
unrecovered, that could cost every smartphone owner more than $250 a
year each.

“Each day, $7 million worth of phones are lost by Lookout users alone,
and if unrecovered, it would take a significant toll not only on our
wallets, but on our psyche too,” said Kevin Mahaffey, co-founder and CTO
Lookout. “Safeguarding your smartphone starts with protecting it from
the number one risk you face – losing it.”

People in some U.S. cities have a higher chance of losing their phone:
Philadelphia residents lose their phone two times more than New York
City dwellers, while San Franciscans and New Yorkers lose their phones
three times more than Chicagoans.

Lookout Labs determined the top ten cities in the U.S. for phone loss
during 2011, inconveniencing residents’ daily lives and resulting in
financial losses:

1. Philadelphia

2. Seattle

3. Oakland

4. Long Beach

5. Newark

6. Detroit

7. Cleveland

8. Baltimore

9. New York

10. Boston

Interestingly, many of the cities with highest rates of lost and stolen
phones also were in the top ranks for the FBI’s most recent crime
statistics. Cleveland, Detroit, Oakland and Newark, were amongst the
10 cities with the highest crime rates in the U.S.

Lookout also discovered that specific locations invited loss more than
others, with coffee shops and bars topping the list. In addition, people
lose their phone most often at night; 67 percent of phones are located
between the hours of 9 p.m. and 2 a.m. local time.

The top ten places for lost or stolen phones in the U.S. were:

1. Coffee Shop

2. Bar

3. Office

4. Restaurants

5. Apartment & Condo

6. Grocery Store

7. Gas Station

8. Residential

9. Pharmacy or Drug Store

10. Park

As part of the study, Lookout unveils in the most common venues a person
is most likely to lose their phone, shedding insights into the character
of each city. For example,

In Chicago, the 3rd most common venue to lose your phone is
a church.

In New York City, the top place to lose your phone is a fast food
restaurant.

In San Francisco, the leading venue to lose your phone is a coffee
shop.

The Mobile Lost & Found is a Lookout Labs project. Lookout Labs is part
of Lookout's innovation arm and was created to explore and test out new
ideas that push the boundaries of mobile. The findings in Lookout's
Mobile Lost & Found are based on anonymized phone “locates” data
performed by Lookout’s 15 million global users in 2011. Lookout Mobile
Security has users around the world who use the Lookout application to
locate their lost or stolen device. To determine popular venues where
phones were lost in cities across the globe, the study used the
FourSquare API. Each “locate” was mapped by FourSquare’s API to a venue
type closest to the lost phone’s location.

About Lookout Mobile Security

Lookout is a mobile security company dedicated to making the mobile
experience safe for everyone. Lookout delivers award-winning protection
from the growing threats facing mobile users today, including malware,
phishing, privacy violations, data loss, and loss of the phone
itself. Cross-platform, Lookout is designed from the ground up to
provide advanced mobile protection while remaining lightweight and
efficient on the phone. With 15 million users across 400 mobile networks
in 170 countries, Lookout is the world leader in smartphone security.
Headquartered in San Francisco, Lookout is funded by Accel Partners,
Andreessen Horowitz, Index Ventures, Khosla Ventures and Trilogy Equity
Partners. For more information and to download Lookout, please visit www.mylookout.com.